The market is down to $267B. Dominance has fallen further and is down to 64.38%. The price of Bitcoin is at 9,600.
Price action has fallen slightly below trendline support and is re-testing the 9,400-9,600 price range.
The stochastic RSI tells us that the price momentum is lowering. However, the RVI is dropping in proportion and has dropped to as low as 30.
This tells us the price range is tightening as the volatility drops, which is generally a bullish sign because as we lose volatility on the way down, we have room to build momentum on the way back up.
Bearish: If the price is unable to hold support at 9,500, the price could re-test prior lows at 9,000.
Bullish: Lowering volatility, oversold indicators, and strong support projected from the kumo could lead to a quick price reversal up to 10,000
Bearish 55% / Bullish 45%
Price action has fallen slightly below trendline support and is re-testing the 9,400-9,600 price range.
The stochastic RSI tells us that the price momentum is lowering. However, the RVI is dropping in proportion and has dropped to as low as 30.
This tells us the price range is tightening as the volatility drops, which is generally a bullish sign because as we lose volatility on the way down, we have room to build momentum on the way back up.
Bearish: If the price is unable to hold support at 9,500, the price could re-test prior lows at 9,000.
Bullish: Lowering volatility, oversold indicators, and strong support projected from the kumo could lead to a quick price reversal up to 10,000
Bearish 55% / Bullish 45%
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